Ophthotech Corporation Prices Initial Public Offering
September 24, 2013
NEW YORK--(BUSINESS WIRE)-- Ophthotech Corporation today announced the pricing of its initial public offering of 7,600,000 shares of common stock at a public offering price of $22.00 per share, before underwriting discounts. All of the shares in the offering are being sold by Ophthotech. In addition, the underwriters have an option for a period of 30 days to purchase up to 1,140,000 additional shares of common stock from Ophthotech at the public offering price, less the underwriting discount. Ophthotech's common stock has been approved for listing on the NASDAQ Global Select Market and is expected to begin trading under the ticker symbol "OPHT" on September 25, 2013.
Morgan Stanley and J.P. Morgan are acting as joint book-running managers for the offering. Leerink Swann and Stifel are acting as co-managers.A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on September 24, 2013.
The offering is being made only by means of a prospectus, copies of which may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; telephone: 866-718-1649; email: [email protected]; and J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717; telephone: 866-803-9204.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.
ABOUT OPHTHOTECH CORPORATION
Ophthotech is a biopharmaceutical company specializing in the development of novel therapeutics to treat diseases of the eye. The company's most advanced product candidate is Fovista™ anti-PDGF therapy, which it is developing for use in combination with anti-VEGF drugs that represent the standard of care for the treatment of wet age-related macular degeneration.
SmithSolve LLC on behalf of Ophthotech Corporation
Jennifer Devine, 973-442-1555 ext. 102